The bill requires the Department of Revenue (DOR) to submit a report detailing the year-to-date net state tax revenue for the current fiscal year, projections for the remainder of the fiscal year, and an assessment of whether net state tax revenue may exceed the allowable state tax revenue. The report, referred to as the "May 2026 Monthly 62F Report," includes estimates indicating that the full fiscal year net state tax revenue for FY26 will not exceed the allowable state tax revenue. The DOR's estimates are based on available data and may be revised as new information becomes available.

Additionally, the bill specifies that the 4% income surtax revenue will not be subject to the limitations established by Chapter 62F regarding allowable state tax revenue. The report highlights that as of May 31, 2026, the year-to-date net state tax revenue, excluding the 4% income surtax revenue, is approximately $38.42 billion, with an estimated total net state tax revenue for FY26 of about $42.71 billion. The allowable state tax revenue for FY26 is projected to be around $48.27 billion, indicating a shortfall of approximately $5.55 billion in net state tax revenue compared to the allowable limit.